The comparative balance sheets of NCAA Corporation are the following:

	December 31
	2020	2019
Cash	$750,750	$487,500
Accounts receivable	526,500	390,000
Inventory	221,000	260,000
Investments	0	130,000
Building	0	975,000
Equipment	2,730,000	780,000
Patent	182,000	227,500
Totals	$4,410,250	$3,250,000
Allowance for doubtful accounts	$121,875	$162,500
Accumulated depreciation on equipment	104,000	260,000
Accumulated depreciation on building	0	227,500
Accounts payable	195,000	130,000
Dividends payable	0	227,500
Notes payable, short-term (nontrade)	243,750	325,000
Long-term notes payable	1,716,000	780,000
Common stock	1,225,250	845,000
Retained earnings	804,375	292,500
Totals	$4,410,250	$3,250,000

Additional data related to 2020 are as follows:

1. Equipment that had cost $351,000 and was 80% depreciated at time of disposal was sold for $140,400.

2. $380,250 of the long-term note payable was paid by issuing common stock.

3. Cash dividends paid were $227,500.

4. On January 1, 2020, the building was completely destroyed by a flood. Insurance proceeds on the

building was $750,750 (after netting $15,015 taxes).

5. Investments (available-for-sale) were sold at $71,500 below their cost. The company has made similar sales and investments in the past.

6. A long-term note for $1,316,250 was issued for the acquisition of equipment.

Instructions: Prepare a statement of cash flows using the indirect method.